CUDAHY, Wisc., Nov. 18 /PRNewswire-FirstCall/ --
Ladish Co., Inc. (Nasdaq: LDSH) (http://www.ladishco.com) today announced its
Cudahy, Wisconsin-based forging division has completed installation of the
first of two new Olympia vertical CNC lathes. Each machine will have
high-pressure-coolant, "chip blaster" capabilities, state-of-the-art Fanuc
18i-TA controls, a 32-position tool magazine, part probes, a
tool-video-monitoring system, and dedicated power-assisted handling. These
cells will enable reductions in setup and cycle times as well as improvements
in tool life. Machining is a key value-added operation in the aerospace
forging business. Modernization is an important factor in Ladish's ability to
help customers control and reduce costs. This investment aligns directly with
forged product processed through Ladish's patented "SuperCooler"
heat-treatment cell (see press release:
http://www.ladishco.com/news/sep162002.htm).
Year-to-date, Ladish has secured long-term purchase agreements with each
of the world's three largest manufacturers of aircraft engines-General
Electric, Rolls-Royce, and Pratt & Whitney. Terms were reached with
Rolls-Royce in the second quarter of 2002, and with General Electric and Pratt
& Whitney in the third quarter of 2002. These contracts cover the delivery of
forgings through 2005 and 2006 for an array of commercial as well as military
programs.
Kerry L. Woody, President and CEO of Ladish says, "Modernization proved
instrumental in winning this critical core business for the years ahead. Jet
engine component sales have represented approximately 70% of our corporate
revenues over the last three years and, in the face of the difficult aerospace
cycle we are weathering, it is a positive development to have three market
leaders committed to working with us long term."
The agreements include new components for the Trent 900 and GP7200 engine
programs powering the Airbus A380 superjumbo airliner, along with numerous
existing production parts.
Woody added, "Agreements such as these can be as beneficial to our
customers as they are to Ladish. When jet engine manufacturers commit to work
closely with us over a long period of time, we can mutually explore new
capital projects and improved processing opportunities to achieve quality,
cost, and delivery goals."
Ladish Co., Inc. is a leading producer of highly engineered, technically
advanced components for the jet engine, aerospace and general industrial
markets. Ladish is headquartered in Cudahy, Wisconsin with operations in
Wisconsin, Oregon and Connecticut. Ladish common stock trades on Nasdaq under
the symbol LDSH.
This release includes forward-looking statements that are made pursuant to
the safe harbor provisions of the Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to certain risks and uncertainties
that could cause actual results to differ materially from those projected in
them. These risks and uncertainties include, but are not limited to,
anticipated or unanticipated slowdowns in the company's major markets, the
impact of competition, the effectiveness of operational changes expected to
increase efficiency and productivity, worldwide economic and political
conditions and the effect of foreign currency fluctuations.
SOURCE Ladish Co., Inc.
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Related links:
http://www.ladishco.com
Company News On-Call:
http://www.prnewswire.com/comp/131444.html
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
+1-414-747-2935, fax +1-414-747-2890; or William J. Libby of
Libby Communications, +1-203-431-8480, fax +1-203-431-6132, for
Ladish Co., Inc.
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